Food-distribution company’s IPO raises $1.02 Billion

US Foods Holding Corp. sold shares Wednesday at the upper end of the targeted range for its initial public offering, in a sign the new-issue market could be gradually returning to health.

The food-distribution company, owned by private-equity firms Clayton Dubilier & Rice LLC and KKR & Co., sold shares after the market closed at $23 apiece, raising $1.02 billion, according to a person familiar with the matter. That makes it the second-biggest IPO in a lackluster year for public debuts.